HC Wainwright Increases argenex (NASDAQ:ARGX) Price Target to $1,202.00

Key Points

• HC Wainwright raised argenx’s price target from $940 to $1,202 and maintained a “Buy” rating, implying 21.68% potential upside from the prior close.
• Analyst sentiment remains favorable: argenx has an overall “Moderate Buy” rating and an average price target of $1,087.28, supported by recent target increases from Wedbush, Piper Sandler, Wells Fargo and Citigroup.
• argenx exceeded quarterly expectations, reporting $7.32 in earnings per share versus a $5.86 consensus estimate and $1.54 billion in revenue versus $1.45 billion expected; institutional investors own 60.32% of its shares.

argenex (NASDAQ:ARGX - Get Free Report) had its target price upped by equities researchers at HC Wainwright from $940.00 to $1,202.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price objective points to a potential upside of 21.68% from the company's previous close.

Several other analysts have also recently issued reports on ARGX. Wedbush upped their target price on argenex from $1,000.00 to $1,050.00 and gave the company an "outperform" rating in a report on Tuesday, July 28th. Piper Sandler lifted their price target on argenex from $1,075.00 to $1,215.00 and gave the stock an "overweight" rating in a report on Monday. Weiss Ratings cut shares of argenex from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, July 23rd. Wells Fargo & Company upped their price objective on shares of argenex from $1,260.00 to $1,291.00 and gave the company an "overweight" rating in a report on Monday, June 1st. Finally, Citigroup raised their price objective on shares of argenex from $1,152.00 to $1,182.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,087.28.

argenex Price Performance

Shares of argenex stock opened at $987.84 on Tuesday. The stock's 50 day simple moving average is $883.84 and its 200-day simple moving average is $821.99. The stock has a market cap of $61.80 billion, a P/E ratio of 37.94, a P/E/G ratio of 1.05 and a beta of 0.46. argenex has a 1-year low of $650.01 and a 1-year high of $1,002.16.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, beating the consensus estimate of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.45 billion. As a group, research analysts expect that argenex will post 28.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ARGX. Whipplewood Advisors LLC acquired a new stake in shares of argenex during the first quarter valued at about $28,000. Eastern Bank purchased a new position in shares of argenex during the 2nd quarter worth approximately $32,000. Sunbelt Securities Inc. purchased a new position in shares of argenex during the 3rd quarter worth approximately $36,000. Axiom Investment Management LLC acquired a new stake in argenex in the 1st quarter valued at approximately $50,000. Finally, WPG Advisers LLC increased its holdings in argenex by 17.8% in the 1st quarter. WPG Advisers LLC now owns 86 shares of the company's stock valued at $63,000 after purchasing an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company's stock.

argenex Company Profile

argenx NASDAQ: ARGX is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx's research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company's lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.

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